is expected to reach USD 26.61 billion by 2025, according to a new report by Grand View Research, Inc. The market is primarily driven by global rise in incidence of cancer, increase in research activities for

developing novel drug delivery technologies, and availability of research funding for ongoing projects.

(Logo: http://photos.prnewswire.com/prnh/20160524/371361LOGO )

Many key players in this market are investing in R&D of novel and advanced products. This can also be attributed to increase in patent expirations. For instance, the R&D expenditure of Celgene Corporation increased from USD 3,697.3 million in 2015 to USD 4,470.1 million in 2016. Increase in R&D spending was directed toward enhancing product pipeline and for regulatory approvals of new products.

In addition, rise in healthcare expenditure for diagnosis and treatment of cancer and awareness about alternative therapies are expected to boost market growth. Improvement in healthcare infrastructure in developing nations and increase in awareness about new treatment methods for cancer are also anticipated to propel the market during the forecast period.

North America held the largest market share in 2016. Local presence of a large number of manufacturers, ongoing regulatory approvals for new drugs, and availability of research funding for new methods of treatment for this disorder are key factors that can be attributed to this region's dominance in the global market. However, Asia Pacific is expected to grow at the highest rate during the forecast period. This can be attributed to rise in initiatives that boost cancer research projects, increase in healthcare expenditure for cancer therapy, improvement in healthcare infrastructure, large geriatric population base, and rise in awareness owing to medical conferences and meetings in the region.

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Your comments are automatically posted once they are submitted. All comments are however constantly reviewed for spam and irrelevant material (such as product or personal advertisements, email addresses, telephone numbers and website address). Such insertions do not conform to our policy and 'Terms of Use' and are either deleted or edited and republished.Please keep your comments brief and relevant.This section may also have questions seeking help. If you have the information you are welcome to respond, but please ensure that the information so provided is genuine and not misleading.

Disclaimer - All information and content on this site are for information and educational purposes only. The information should not be used for either diagnosis or treatment or both for any health related problem or disease. Always seek the advice of a qualified physician for medical diagnosis and treatment.Full Disclaimer